Exploration & Production | Operational Updates | Top Story
PetroQuest Plans Significant Woodford Development
Print
|
PetroQuest Energy Inc.'s latest shallow water Gulf of Mexico acquisition is expected to be highly accretive to the Company's cash flow, which will enable the Company to increase its capital expenditure budget in the future.
Consistent with the Company's strategy of utilizing a portion of its free cash flow from Gulf Coast Basin operations to fund its resource asset development, as a result of this transaction the Company plans to significantly increase activity in the liquids rich Woodford and Cotton Valley portions of its portfolio.
Utilizing the expected free cash flow from the Acquired Assets, the Company plans to drill over 50 liquids rich Woodford wells in 2014 (compared to 16 liquids rich wells estimated for 2013), all under the Company's Woodford Joint Venture cost sharing…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations